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20121231
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of trade, as well. yes, an ipad in china gets made and it's value point $50. but it's only about $20 of that that goes to china and the rest goes back to the u.s. we'll get into the dynamics of trade, as well, and how we measure it. we'll also be joined by the ilo director general, as well, guy rider. we'll hear from the head of the world intellectual property organization. so it's a big trade day here from geneva on "worldwide exchange." lots of great things to get into. and by the way, 157 members of the wto, shortly to be 158. kazakhstan today should get the approval, all 157 ambassadors are here. they will get approval later this afternoon. so an ever expanding membership base. >> kazakhstan being just the latest. plenty more from ross straight ahead on the program. in the meantime, we want to check in our how markets are doing. so much attention on italy. in particular, you can see the message broadly speaking this morning is in negative, we're seeing about a four to one outpacing decliners versus vapsers here. the stoxx 600 is down abo about .37%. let's take a look across the t
. >> very nice. >> all right. aside from that, we'll take a look at upbeat economic news out of china. the purchasing managers index rising to 50.9 in december. highest level since august. the surge also helped speculation the chinese government will take additional steps to support its economy. of the 15 times china's up 3%, since '09, s&p that day is up 13 times. almost every time. despite the futures today, is it a good omen for the markets here? >> look, there was a dichotomy in that government. there were people who were concerned about inflation. and there were people who said, listen, we're not growing fast enough. they do have a lot of levers. if they want to grow, i still -- i've been a bull on china. if they want to do 9%, 10%, they have the ability to do it. all they have to do is have a gigantic sewer infrastructure program. >> that's true. there's going to be an economic war conference held soon. it's believed the government will start to release growth forecast at that conference and perhaps unveil some further stimulus measures or tip their hat in terms of whether they
likely comes from the defense sector. at a time when china is rising. you see those planes land on that aircraft carrier this week? the middle east is boiling. i don't know. did we really want that big defense budget cut? i mean, maybe nothing more than the decline in spending is the war in afghanistan winds down. saving about half a trillion dollars over the time. maybe more. the areas where the defense job losses take place they look mighty red to me, at least on the electoral map. yes, you'll have to say goodbye to the fabulous 15% dividend rates and the capital gains rates will rise, not as much. the wealthy will pay what they had to pay percentage-wise during the best period for the stock market in my lifetime, the clinton years. i don't want to pay more tax. you don't, either. if we won't necessarily live happily ever after because of that i think we may be able to take -- i might be able to take this pin off before new year's day. wouldn't that be something? get this pin off before new year's day? that's why i need you to watch "meet the press" on sunday. not just because
but with china looking up is the stock set for a surge? the "halftime" rumble is ahead. first our top story, biting into apple. citi downgrades the stock less than one month after calling it a buy. what does the firm's team of analysts see now? where will the stock head for header? traders are stephanie link, joe terranova, steve weiss and josh brown. you surprised at this downgrade? what does it mean for the stock which went under $500 a share today previously in the premarket? >> this is 20 days after initiating coverage of the buy. i guess i don't know which of the three of them was the most vociferous about downgrading because now it's three guys making the call. playbook one of them holds a little bit more sway. personally i really don't care. i don't think it's optionable, the initiation at the price it was at and now the call today. the way we're looking at apple, it's an oversold name. things that are not intonal to the business that are causing it. the stock looks like it could probably shrug off the latest downgrade from citi if only it looks from all of the pessimism about china
debut of the iphone 5 in china as well. nasdaq down by nearly 1%. it looks like it's sitting around the lows of the day. >> something more to watch. next week is a new week, folks. obviously a very difficult day for everybody in america, but we do appreciate you watching "street signs." cnbc will have continuing coverage of your markets, all your post-close news and, of course, what is going on in newtown, concome our hearts and prayers go out to all those people affected by that. "closing bell" is next. >> i'm bill griffith. welcome to "closing bell." maria will be along here in a few minutes at the new york stock exchange, and we add our sentiments as we continue to update you on the horrific massacre at the connecticut elementary school. our deepest prayers and sympathies to all of the families and others hit by this senseless tragedy. the horror of the story may have muted trading on wall street today, as all priorities are being rearranged in a moment, and we will get you caught up on these markets in just a moment, but first we want to let you know. president obama is set to m
as the 4 s in china. let's get to the fast money halftime back at hq. >>> and, thanks very much. welcome to the halftime report. four hours to go until the close. here is where we stand on this friday on wall street, read arrows across the board the dow down 17. s&p, nasdaq negative as well. here is what we're following on halftime. face lift, facebook shares up 40% in the past two months and one of goldman's newest partners tells you where it is going next. debate it. walmart shares down 4% this week. taking a bit of luster out of what's been a good year for the stock. now two traders square off on whether the retailer is ready for another run. first our top story, apple's freefall. shares sinking to their lowest level in nine months today after ubs cut its estimates and price target. the man who slashed the stock in just a moment. but first our traders for the hour are josh brown, pete najarian, simon baker and j.j. pete, apple not far from the november low of 505. >> right. it's catching up very, very rapidly right now. it's been something where i know we've been talking about this st
city's times square i'm melissa lee. first china conundrum. is the chinese recovery in recovery mode? a top strategist is digging through the data. hedgefund head winds are supposed to be some of the smartest on the street but 2012 has not been kind. find out if december will bring rebound or redempson. commodities collapse. breaking down the slide in gold today. first we have to get straight to our top story and that is apple down by 1.75%. could apple's problem be that its growth has, in fact, peaked. well respected strategist out with a note highlighting the multiple which has been in steady decline since 2009. the peak marked by the release of the iphone 3 gs and earnings growth is what the stock needs to go higher. so do you buy that perhaps margins have, in fact, peaked here and that the best is over for apple? >> i have a mic problemb now. if you look at wear google and microsoft have been on the margins this has been a place for the stocks. >> that is a great point. >> magic of live television. >> he strolled in. >> the price action is skimming. you can say what you want abou
. >> and will it be in china? will the iphone make it in china? >> i got up this morning and turned on cnbc. >> of course you did. >> one dude was at the shanghai store in line waiting for the iphone 5. >> there are a lot of pre-orders. but the question is, will they get china mobile? that's 80% of the smart phone users in china. that's a big question. >> how long have we been waiting for apple tv? >> we could be waiting for months more. >> john has the latest on a developing story between apple and walmart. john? >> yeah, melissa. big news today that kind of slipped under the radar. that's that walmart is discounting apple products way more than we could have expected. the iphone 5 starting today, the entry level iphone 5 down to $127. normally, at most outlets, $199. the new ipad, the fourth generation ipad, starting monday is going to be at $399, plus they'll throw in a $30 itunes gift card. i've been trying to make calls to figure out what the nature is of this promotion. what i gathered is this isn't something apple is pushing at all which probably means walmart is using this as a loss leader. given the
though from china, a place you look at closely. stocks, it's not like we're going down the tubes today. >> i thought we would have been a lot more because of not only china pmi but brazil. there is a lot in the last couple weeks, the data we have gotten has been mixed. particularly on the consumer side as well, because of sandy. so i think in the meantime, until we get a resolution, i've said before, i think you're going to be in a trading range. and i think into the strength of the market, you want to take some off, never bad to have some cash. but on these pullbacks, i think you want to be buying, because i actually think the economy is getting better, particularly when you look at housing, consumer, even auto and aerospace, all those data points point to 2013. >> are you buying the market on any pullback? >> i like the santa claus rally with josh and would be raising cash. i think the risk in the markets further on the down side than the up side. but when you see some real pullbacks, buy the stock if you like it. >> morgan stanley's top market watcher has been bearish all year and n
with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's
in india and china that all investors need to be aware of is the fact that corporate debt is now really building up to almost unhealthy levels. and i would keep an eye on where corporate debt levels are in companies investing in. >> when i was a corporate analyst in india tracking markets, technology was considered the engine of growth for the country and one of the bright spots for the market. is technology still one of the areas you are tell clients to invest in in india, or what are the sectors you're looking at? >> i think there's two sectors whether you look at india, china, or asia. there's two sectors we like. it's technology, as you said. i think that's one that -- it's a bright gem. you know, it went from, in india, from a bpo outsourcing business and has grown to an innovation business where brands are being developed and real technological gains are being had. the other sector we like is health care. the demand for health care in these markets is just continuing to grow steadily. obviously people are having longer lives, having more disposable income for health care and treat
-digit comparables for breakfasts in china and the fact they're going to have 2,000 stores. >> first of all, i think you're confusing your culinary fantasies with the stock selection. it's a 10% grower. the environment has gotten so promotional and you can't really say that the management team is great. true, thompson's been there for 22 years. new ceo, but skinner's gone. and by the way, so many ceos left on top -- they've left while they're on top because the there's no gas in the tank. that's a trade if it happens. you'll see some short covering. bottom line, too slow, too promotional. i'd put money elsewhere. >> the stock hasn't done well. >> had a phenomenal 2011. slowdown in 2012. when you look at the environment you can fully understand it. i love the skpaks. >> take a look at yum!. yum!'s u.s. sales has grown. the dollar menu is back. don't confuse higher sales against some very, very reports and we've got a low bar with profitability. it won't be there. >> profitability comes from breakfast. they're killing them in china. >> i'm going to look at the valuation for me growing too slow. >> it
to play something like this, but given that it's china, i think the second largest customer of china, the u.s., avoiding the fiscal cliff, will be very good for them. you look at the build that it's had over the past three weeks, judge, it's up from roughly 35, pushing up towards 39 right now, that etf is, and i think if and when we do push this behind us, the fiscal cliff, that is, i think this one goes into the mid 40s. so i would buy fxi. >> let's debate these around the table a little bit. stephanie? i mean you're more positive i guess than negative on china. you like the fxi? >> we have been involved in it for awhile. we like a lot of the industrials. we like a lot of the mining stocks. >> have we talked about that one? >> maybe just a little bit. i do think you are definitely seeing some momentum pick up in china. and some of the nonbelievers are starting to become believers. and the data over the weekend was pretty compelling. other than the trade data and the export data, which i think people are expecting it to be a little bit soft given what's going on in the global world.
there are three things. increased dividend in april. number two, china mobile, about 500 million subs, that should be a catalyst for iphone growth in the back half and lastly, much talked about anticipated is apple television. so, near term, we feel good about iphone. longer term in 2013, we think there are going to be several catalysts. combination get us comfortable. >> what factor is the 24% decline from the september peak in branding apple the top pick of 2013? i'm just wondering, you know, given the steep pull-back, you are simply seeing that upside, a meaner version report of trade in 2013. >> well, i think the reason, you know, you talked a lot about it. there's been many reasons behind it. everything from potential increase in tax treatment for capital gains to potentially people's concern about the iphone. i think that's the fundamental reason. we feel good about it based on our work. i think that concern has really driven shares lower here. ultimately, when they report the december quarter, we'll know. we think that's going to be positive for shapes. >> hey, gene, it's dan. it seems like
. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had this number last week. reminds people, again, they've been right down, and up. mcdonald's is one of those things where joe asked me from squawk when we were talking, i said, i think this is a for real term. if they continue to innovate. i may this may not be your cup of tea, burger, but innovation s higher. >> they tried to sell it to consumers as opposed to their extra value menu, which is a little bit hi
. china state picc group raising more than $3 billion. it's the territory's biggest ipo in into years. still to come, didn't have to price it toward the bottom of the indicative range, maybe a sign that the appetite from the listings remains week. and managing liquidities also a priority. this week the pboc switched back to pumping money into the banking system after withdrawing more than $40 billion over the last month. reports suggest possible $1.8 billion is a moderate amount compared to what the pboc is used to putting in. andrew, very strong session yesterday for shanghai. flat today. after a period of underperformance, will it turn around or not going into 2013? >> well, i think in the recent couple of weeks actually, we're seeing quite positive economic data coming out of china. pmi is improving. and consumer sentiment is the highest. and for the past five months. but this have not translated into a more robust market. this is because for the past two quarters, there is all bad news. so there was kind of negative feedback loops that caused the market to be oversold. and then it
.s. has slapped duties on wind turbine towers on china on price its says were unfairly cheap. this comes as washington welcomes a high-level chinese delegation led by the vice premier. his team is in the u.s. to talk trade and economy. he's expected to meet with u.s. treasury secretary tim geithner tomorrow. wang is the first official from the new leadership team to visit with the u.s. for more on the impact and implications of this, let's speak with frank ching, adjunct associate professor at the chinese university of hong kong. frank, hi. the first news that we're getting out of this appears to be more import duties s. this going to be the theme of u.s./china relations, or do you expect these meetings to be more of a thaw? >> well, i think that these are the first meetings since the new leadership in china was installed. and since president obama saw -- well, won second term. i think both sides want to make use of this occasion to improve their relationship. so this joint annual meeting is a platform, and i think that they will probably be able to achieve some progress on issues of con
thanks to china. china overnight sifted past urban mization which led people to think copper, comment, etc. would do well. and that helped the markets. >> statements were consistent, getting clarity in policy, that was good. i totally agree with these guys, in apple's fall and the market's sustenance of a pretty good range is very, very good. the other part of china and apple, old girlfriend come back into the fold. >> looking good. >> they're going to do mogul and aluminia 922 t. it's a sign that maybe apple will not have this big windfall with china mobile which is 670, 680 million subscribers. last week we talked about the china unicom deal, they got the approval to run the apple iphone. when you look at apple, they're getting dinged on both sides of the pond. at&t at their conference indicated smartphone sales are down or slightly moderate, which isn't what apple is 130esed to do. >> the only thing i would add, look at the aussie dollar. it did not rally. if there was going to be a big commodity rally, the aussie dollar would rally. >> is that because of the tax -- not the tax, th
that china mobile will take longer to start selling the iphone given it's already picked up nokia's latest lumia. reports apple is asking for fewer iphone 5 parts from suppliers and people wrapping that in with fears apple is losing phone market share to android and dealing with compressed margins from ipad mini and other products. as a reporter covering the company i wonder if some of us have crossed over to irrational despondency on apple. tim cook set a high bar in revenue for the quarter, he just had a big opportunity to drop a hint in interviews with nbc's brian williams and bloomberg "business week." so far it seems he didn't do that. iphone 5 supplies coming into balance available to ship in two to four business days online. ipad mini demand outstripped supply which could mean margins are better than apple projected. there are open questions on the pro and con side of apple but the most important ones, these questions can apple ramp iphone supply ahead of the quarter and will depend be there for the smaller ipads in the face of competition from amazon and google? seems like those ar
. we've talked about kind of the industrial recovery and the global recovery in china and in brazil. and i think that theme still is very, very powerful. and i think home here, housing. and i think the fed yesterday, the nbs purchases, reinforces that housing will continue to be a theme. >> all right. we're going to take a quick -- i'm sorry. >> that 6% surge -- no, that's okay. out in california, those housing numbers, highest in several years, that's a good sign. and all we've got to do is get harry reid and john boehner out of that alternativalit john mcafee is in because they seem to be living in that same weird world that that tech entrepreneur lives in. they've got to get and rise above, as we've said over and over again, they do that, this market's got a lot of gas to the upside. >>> on the way, judging big ben. where traders stand on the markets today after the fed chief delivers fresh thoughts on the economy. and r.i.m. shares trading at seven-month highs. can they continue to deliver returns to investors? >>> first, is the magic in the makeup for estee lauder? executive ch
that sign out of china. you are seeing that the biggest industrial exporting country in the world, germany, look at the autos, look at volkswagen, these guys are in multimonth highs and many cases, multiyear highs. this is telling you that the global economy is not dead. when you layer in, you know, kay schiller at six-month highs and the housing stocks doing what they're doing, this shouldn't be a big surprise. >> we have japan with its election, stimulus is on the way there and the european data doesn't seem to be getting much worse. >> potentially europe looks like it's at least stabilized. if china has a soft landing, it's pretty hard to get bearish on the global economy when you have two of the major economies hopefully and looking like -- >> we are only a couple percent from the highs we made. what is it discounting? and just one other point, if you look at the bank stocks, the way they act here, if you look in europe, the euro stocks bank index is really flat here. for the last couple of months here and to me, you know, the u.s. banking index needs to see the confirmation of europe
a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversin
up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. li
't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing suddenly got off the rails. take a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american
a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the market. >> they just accelerated dividends. but i think we're talking now 150 companies in some fashion have accelerated or put forward a special dividend. you put forward a special market share, china is 76, with the market share at least. >> is it a disappointment that apple did not pay a special dividend? is that part of this? >> there was some of that. >> there was some expectation? not that they ever gave any voice to it. they never said a word about it. >> true. >> look, it is widely owned if the stock were -- it's obviously, here's the stock that went from 70 to 50, maybe it goes to 48, 45. everybody who doesn't know what apple is, other than the fact that they use an imac or iphone are selling it. and, look, if you're a hedge fund manager you went from thinking i have to own it, or i have to short it. . >> in
. last, but certainly not least, i think you could see the new leadership team in china come more aggressive reform program than people are expecting. >> all right. michael, good to have you. >> thank you so much. >> michael jones of riverfront. >> financials looking to continue their upward momentum from yesterday when both bank of america and citi hit new 52-week highs. independent research analyst meredith whitney has turned bullish on financials, too. whitney citing several factors including her view that banks are more than adequately capitalized. and guys, the weakest position banks from the crisis are now more than adequately capitalized, thus what they earn going forward, whatever that is, will now be theirs to employ with far greater discretion than has been the case in the past. that's the crux of her note. >> it needs to be listened to. i think we make a little bit much of meredith whitney, to be frank. it's been a controversial call on municipal bonds a couple of years ago that has not been proven correct. she might argue with that, but i think that's in the facts. you
. >>> apple downgraded on iphone 5 fears. but what fears? sales of the phones soaring in china over the weekend. 2 million of them sold in the first three days of its launch there. so are fears about apple overblown? president obama says he will use whatever power he has to prevent another massacre like the one in newtown, connecticut. what can be done, if politics is the art of the possible? where does the possible reside in america? we talk solutions today on "power lunch." my partner, sue herera, sue? >> let's look at where major averages sit right now. just a second ago, we were up 80 point on the dow. we are close to the highs of this session so far. nasdaq composite is up 29 on the trading session and s&p 45u7b is up 13. it is that optimism over the fiscal cliff which increased over the weekend after house speaker boehner edged ever closer to president obama's position. indeed, the speaker met with the president at the white house this morning. eamon javers is at the white house. eamon? >> previous meetings between the president and speaker had been telegraphed a little bit. t
if none of this was going on politically and we were just dealing with the fed, china, some of the -- europe. >> it would be higher, substantially. >> probably at all-time highs in every index but the nasdaq. ask yourself this question, where is the greater risk being completely in cash and then they get a deal done? or is the risk to the upside, or to the downside rather. markets have an interesting way of slowly getting used to negative news, specifically news that's been sitting on the horizon for so long. they have been talking about this for 500 days now. so i doubt very highly, even if the calendar rolls on with no deal, we are looking at a 10% kupgs. i can't see it being triggered because people are not going to be that shocked. >> john and jerry, how do you see this market looking on the other side of the holiday? >> i think once we get through this, it will be a small and anorexically thin deal, judge. after that, we'll be facing the debt ceiling. and that negotiation will drag on until the 11th hour as well. you can bet your bottom dollar on it. so what i'm thinkin
saw that. i do think one thing we can certainly say given that china seems to be stabilizing a bit, we can all discuss europe. greek situation. maybe it's off the front pages for a while. and so if we assume that the jobs picture in the u.s. is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a theory of how i could cause a recession. i would cut back government spending quickly. >> i would raise interest rates to 20%. >> bernanke ought to join the -- look, i think this is what's going to happen. i think it's 50-50 we get a deal. no vacation. no legislation, no vacation. i think that when people get their paycheck at the end of january, they are going to be sho
about china electric demand being strong. remember, they make coal machinery, depending upon how much electric demand there is in china, his orders go up. that's why i think people are surprised the stock eel not down big, given his concerns throughout the near term. >> comments, the buybacks continue. >> now, i begin to say, wait a second. one buyback, maybe -- too much coincidence here. you have the news out of joint global. i think people are starting to say this fourth quarter's an inflection point for china. less worried about inflation, more worried about pro-growth. cummins is a uniquely chinese story. so many truck engines go there. let's keep track of this. >> a lot of people say if you've got gdp growing again and inflation as low as it is, that is the sweet spot, that is where you always want to be. >> india came out with global stuff. coal, i know, we're only used to seeing coal phased out in this country. they love coal in china. i don't want to make a judgment on whether that's -- but they are huge coal plant builders there. huge. >> an important one to watch. we'll talk
in china are strong. when on friday some reports suggests otherwise. >> john ford is here now with the story. >> two conflicting story lines on apple collided today. one has apple ordering fewer iphone 5 parts which has a less than stellar start to 2013. the other is suggesting demand remains strong in apple's most crucial market for the iphone. the question here is are we at the beginning of a radical global slowdown for the iphone and ipad? half a dozen analysts believe to think so. believing that the iphone 5 parts have cut their price targets in recent days. the idea is that apple is ordering fewer parts for the months after the holidays. the problem with this theory though, demand still looks strong for the iphone 5 given the launch where apple couldn't make phones fast enough. and china did 2 million iphone 5s. europe is week. but with demands elsewhere looking healthy, some numbers at least seem to be going apple's way. the question is whether samsung and amazon are meaningfully zapping the apple products. >> all right, jan. thanks so much. >> we've got both sides of th
? not that long ago we heard very smart short sellers write off both china and europe it was on a year ago that italy and greece would be following in disaster. of course, they subsequently turned out to be the single best places to invest for fixed income in the world. not only did the sky not fall, but you had to do some serious buying to keep up with the others around the world. we have been buying an etf for my travel trust. was there a more uniform agreement than the idea that the euro had to die and the weaker countries were going into a fre depression? we know a ton of countries that could do very well in a low-growth environment. a year ago all the wise guys were telling us to avoid china because it was a house of cards. the course only grew more uniform with the chinese market falling to multiyear lows. but in the last few weeks, china's economy bottomed during the summer as they were focused way too much on beating inflation. now it's become the best performer in the world, and i don't think you've missed the move which is why my trust has been buying an etf that mimics china. fi
. export orders, a sign of weakness there and in china and in some of the pmi figures that we got across europe. so the theme that is emerging, while germany even showed some signs perhaps of strength in its service sector, there's still concern about global growth prospects. for that reason, all the more reason why perhaps it's important for policymakers to be proactive, including mario draghi. back over to you guys. >> thank you for that. who is going to be the squawk perpendicular of the year, joe? >> you mean if we pick one? >> if we pick one. >> we have to pick one that's not obvious. >> like mcafee, maybe. i had an opportunity to pick business person of the year and i picked richard scrusi. it's so hard to find an honest cfo. remember the guy that helped out? i think he was on his way up the river or something. you have to pick it so there's an edge to it. >> like leo apatae or something like that. >> no, like mcafee. i didn't mention that, but he may get the squawk person of the year award today. it depends on how he answers your probing -- your father was a litigator, right? >> t
of this you focus on what happens internationally and china continues to recover. europe looks like it's stabilizing and we didn't change our strategy based on the news, just a little bit more of what you're doing. >> randy, anything change for you? >> no, not really. what we're watching is the parallels that occur now, where we stood with the fiscal cliff and where we stood in 1999 with the y2k situation. we borrowed a lot of growth in 1999 from 2000, and that led us to a recession. we're looking at the same thing now. we're seeing people have accelerated dividends, pre-payments, seeing a lot of companies that single proprietors are paying themselves this year in anticipation of higher rates. >> it's interesting that you point that out. it could be argued at the same time that we're delaying growth until next year because of the number of companies that have delayed hiring or capital expenditures because of the uncertainty about the fiscal cliff. >> yeah. well, uncertainty, unfortunately, is perhaps going to continue with this because the regulations are not going to go away there. ma
that was doing fabulously in china and making up for all sorts of north american weakness. that had been the theme for a couple of years. now it's just the opposite. people are concerned about the inventory building in china putting a lid on the stock. now, i am looking for a lid to be blown off by a turn in china eventual l. maybe not this quarter. while the u.s., i think, is strong because of foot locker, but some analyst came out today and said u.s. is even weak. remember, nike trades on futures orders, not on earnings. so if you're dumb enough to want to trade in after hours, be aware, you might be trading on the wrong number. friday. these are big brand names. what a big week next week. friday we get results from walgreen's. i feel badly for wag. we just heard from cvs yesterday which boosted its numbers. that's a tough comparison to go against. i don't know how walgreen's can keep up. i will say this, though, the drug stores have been in secular share take mode from other stores, which is one reason why cvs was able to deliver such a strong number p. and i think walgreen's will sho
on that point, the companies for stocks like tiffany's, what about aptitude in places like china in. >> overall when we see what's happening in china, so many new brands emerged in china, new companies on the luxury good fronts, and you've had the big conglomerates vogue down their rate and new store openings. watch profitability for luxury companies in 2013. >> okay. r.j., break it down. who do you like for next year? >> in addition to costco and amazon, i like some of the late cycle discretionary plays especially when we see the housing market improve, names like william sonoma and home depot, names that did a great job investing in the supply change, a name like american eagle stands out in that regard. those are probably our top picks heading into 2013. >> jay, what would you avoid? >> anything that's a commoditized retailer. you'll get killed by amazon and other low-cost providers, names like best buy, barnes & noble, any of the office guys. i think most of those names are dead in the water right now and definitely names to avoid at this point. >> dana, any names we missed from you? >> i t
, was what stuck out to me today. >> and that was a china story, too. >> yeah, foot on the brake, hard, out of china, and that's why these coal names were so depressed. i don't think they come back, guy, but not come racing back and it's all because of the shale plays and that's why i think energy produced out of there is going to put a cap on how much of a rally we're going to see out of coal. >> how about jcpenney? anybody willing to take a bet? we had an analyst on "squawk on the street" on monday who visited stores over the weekend, said, you know what, the traffic was good. they went back to their promotion always and brought people back in. >> until there's an actual turn in the data, i don't care what a store looks like on a tuesday. i can't invest based on that. when we look at the data, technically, the stock's been acting a little better. there's a ton of shorts in this thing, though. that's hard to go by and there's just not turn yet. i'd rather buy the thing higher when there's some sense that the business has stabilized. i don't want to buy it here where we really have no idea
in the tech space today related to the positive news that you are getting from china. and that points you towards a qualcomm. that points you toward nxpi. >> you could throw up google. that stock went back over 700 today. technology is one -- >> google is not tied directly to the sales of those smartphones. >> i understand that. i'm talking about just technology -- >> barclays came out and said technology is one of the two favorite sectors for next year. >> one data point i want to get out here. we're bringing up apple in china. right now they're saying iphone 5 sales are running 50% ahead of what iphone 4 sales were in 2010. that's fairly significant if it turns out to be true. the source for that is macbook translating data from chinese. that's making the rounds. i think people are looking at this aspect of wait a minute. this is a whole growth market that maybe is not in all the -- people are bullish on the china story. but maybe not enough. i think that's giving it to credence here. >> stocks off session highs after those comments from speaker boehner. really, we're hanging in there t
to china. we think the soft landing is real. we stabilized the 7.4 print in q 3 we think was the bottom. all of those things lead us to be believers in the china story. on europe we've been early and big believers in the draghi road map. yes they're in a mild recession. we think they come out of it in the second half. >> which is why i'm going more toward the second half. >> but the debt markets, the sovereign credit markets we think remain stable. and u.s. equities are more correlated to the spanish and italian bond yields than they are to european gdp. we likehe european influence next year. >> let's say your focus is more on the united states right? if you're buying stocks, you believe your thesis that we're going to get to 1550 at a minimum consumer discretionary is tops on your list the second best performing sector this year behind financials. you think that continues to work why? >> we've seen profit taking on the cliff but by the same token this is an area that has the most to gain if we get a cliff deal and that is our base case. we also like industrials. there we don't think t
. >> and china had a fantastic pmi number which said their manufacturing activity hasn't been this strong for 16 months. china is the second-largest economy in the world. and definitely not a fiscal cliff there. but today's activity i thought was amazing when you consider there's still so much left undone and as john just said, everything he said was tax, tax, tax. >> amazing like a head scratcher? >> yeah. i get the fact we had five straight down days and we were oversold. i don't think you get a solution that rallies this market 2% tomorrow, even if it's everything everybody wanted to hear. >> right, the fact of the matter is, they may agree on taxes but taxes across the board pretty much are going higher and there's still the debt limit issue and then the spending cuts issue. >> that's the thing. you nailed it. the debt ceiling conversation is going to be a weapon of force and it's something that's going to be hanging over this market. i heard nothing about entitlements. a house that wasn't even going to vote for boehner's plan b, which was $1 million in terms of the tax increases. i'm a litt
than 2 million in iphone 5s in china just over the last three days. that's the best ever debut for the iphone line in china. apple is china's second biggest market, although it did lose a lot of market share while they were waiting for that i5 to come out. and citi research has downgraded apple from a hold to a buy. you can see there just below $500. >>> also, the national association for business economics growth in 2013 to come in at 2.1% after growing by 2.2% in 2012. that would continue the same tepid growth that the country has seen since the recession ended back in mid 2009. >>> and the nation is mourning the horrific event of friday in newtown, connecticut. president obama spoke last night about change. >> we can't kol rate this any more. these tragedies must end. and to end them, we must change. we will be told that the causes of such violence are complex, and that is true. no single law, no set of laws can eliminate evil from the world or event every senseless act of violence in our society. >>> and earlier in the day, new york city mayor michael bloomberg called on th
in europe a year ago versus today, particularly exporters with china maybe turning a little bit. i just think an awful lot of money has left that area. if any of it starts moving back, and maybe that's what we're seeing, it's a nice place to be. the trick is you have to be there before the turn. >> hey, bill. >> yeah, rick? >> with citigroup cutting 11,000 jobs, austerity makes their stock run up. i'd like to know what our guests think if many of the others are going to be cutting. investors found something golden in those cuts. >> it's true because the stock goes down real quick. you like the financials? >> we're kind of agnostic. sorry, maria. >> sounds like you don't like them. >> we're underweight. >> mark, quickly. >> we are underweight financials. we've moved to more of a neutral weight. citi is one of the names we're overweight. it's a shame for the folks who have lost their job, but it's a nice move today. >> 7.5%. bank of america, 6%. thanks, guys. >> thank you very much. see you later. as a matter of fact, the financials are leading us higher. we're near the highs of the sessi
's been a lot of mess with foxconn in china. he's paid apple retail employees more money. that's good for apple and the economy. finally, he talked today about bringing over more manufacturing of macintosh computers in the united states. that's good for everybody. >> i think people will take issue saying tim cook is better than steve jobs, nick, don't you think? >> it's certainly hard to say anybody is better than steve jobs. that's not really an option, whether or not steve jobs continued to be the ceo of apple. i think tim cook has done a good job. for him to try to be steve jobs, to try to be a product visionary would be a big mistake. his real skill is optimizing supply chains and running apple's massive operations. he's done a good job of really focusing in on who can be the next steve jobs. that's johnny ive. he's the person who designed all the hardware at apple. now he's in charge of the way everything looks and feels. after steve jobs, there's a natural fight between who's going to become that next person. you have to give tim cook credit for going with johnny ive. >> at the
in tomorrow and said, get everybody out of china and do whatever you have to do, make these, make everything you make in the united states. what would that do to the price of this device? >> i honestly -- it's not so much about price, it's about the skills, et cetera. over time there are skills that are associated with manufacturing that have left the u.s. not necessarily people but the education stops producing them. >> that's sad. how do we get that back? sbl well, it is a concerted effort to get them back. with this project that i've talked about where we will do a mac in the united states next year? i think this is a really good another step for us. the consumer electronics world was really never here. so it is not a matter of bringing it back, it is a matter of starting it here. >> good morning. thanks for joining us here. >> reporter: while steve jobs liked to avoid the spotlight, he also thrived on it. it was as if he was selling products that were pieces of his own soul. he was inventor, pitchman and new wave pid piper all in one. big boss coming through. big boss, people. look alive
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